Well, Minister, devolution was intended to significantly improve the economic performance of Wales, and yet when it comes to re-energising the Welsh economy, instead of taking that opportunity to proactively boost the economy, I would suggest that the Government has failed to create the right conditions to attract inward investment.

In your response, Minister, you talked about offering grants to various businesses, but I would say, instead, the Welsh Government's business policy has very much focused on throwing money at businesses like Kancoat, Mainport Engineering and Griffin Place Communications—all received Government funding and all are failed projects. I would absolutely accept that the Government does need to take risks. I accept that. But you have to also take into account that balance between risk and benefit, and I do believe that that balance is wrong. And the auditor general accepts this himself, saying that

'The Welsh Government has not yet implemented an approach to balancing potential risks and benefits'.

So, can I ask, Minister, with such a list of poor investments, how can the people of Wales be confident that the Welsh Government can make responsible decisions when it comes to Welsh businesses and managing the Welsh economy effectively?